Egypt targets $1.7bn of exports from eight projects

25 February 2008 13:40  [Source: ICIS news]

DUBAI (ICIS news)--Egypt is targeting annual exports worth $1.7bn (€1.1bn) from eight projects currently under construction at a cost $6.6bn in the first phase of its petrochemical masterplan, Energy Minster Sameh Fahmi said on Saturday.

Hani Suleiman, CEO of Egyptian Petrochemical Holding Co (Echem), which was established to achieve this first phase of Cairo's masterplan, said that its $490m linear alkyl benzene project in Alexandria is nearly complete and will start production in May 2008.

A 400,000 tonne/year ethylene plant with a total cost of $600m was currently at the feasibility study stage, Suleiman added at the Echem general assembly.

Egypt established the national masterplan to develop the petrochemical sector, in order to diverse its economy and to create job opportunities.

($1 = €0.67)

By: Abdelghani Henni
65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly